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CENT 
on  the 


AJN"    ACT 

ALLOWING  THE  RALEIGH  AND  GASTON  RAIL 
ROAD  COMPANY  TO  INCREASE  ITS  CAPITAL 
STOCK. 

Whereas,  the  whole  capital  stock  of  the  Raleigh  arid  Gas- 
ton Rail  Road  Company,  is  fixed  by  the  Charter  at  the  sum 
of  nine  hundred  and  seventy-five  thousand  dollars,  and  each 
share  thereof  at  one  hundred  dollars,  and  by  reason  of  the 
great  expenditure  in  permanent  fixtures  necessarily  made  to 
complete  the  road  after  exhausting  the  capital  stock,  the 
actual  capital  invested  is  now,  or  will  soon  be  upward  of  one 
million  five  hundred  thousand  dollars,  so  that,  each  share,  in 
said  company  now  represents  about  the  sum  of  one  hundred 
and  fifty  dollars  ;  and  whereas,  at  a  late  general  meeting  of 
the  Stockholders,  held  on  the  4th  day  of  October  last,  it  was 
deemed  expedient,  and  so  resolved,  that  the  Company  should 
purchase  a  portion  of  the  slaves  to  be  employed  in  its  ser- 
vice, whereby  each  share  will  represent  a  still  larger  addition- 
al amount  of  capital  stock,  and  it  is  but  just,  that  the  shares 
should  represent  as  nearly  as  practicable  the  amount  of  capi- 
tal invested  : 

Be  it  therefore  enacted  by  the  General  Assembly  of  the  State 
of  North  Carolina,  and  it  is  hereby  enacted  by  the  authority 
of  the  same,  That  it  shall  be  lawful  for  the  Raleigh  and  Gas- 
ton Rail  Road  Company  to  increase  the  number  of  shares  of 
its  capital  stock,  so  as  to  make  the  whole  number  fifteen 
^  thousand  or  less,  and  that  the  additional  number  hereby  al- 
0m    lowed  may  be  wholly  or  partly  divided  among  the  Stock- 

EL 


[2] 

holders,  according  to  their  several  interests  or  sold  for  their 
use  and  benefit,  or  used  to  purchase  slaves  for  the  use  of  the 
Company  as  by  the  Stockholders  shall  be  deemed  best ;  Pro- 
vided nevertheless,  that  it  shall  be  necessary  for  the  State  as  a 
stockholder  to  concur  in  the  number  of  increased  shares  as  also 
in  the  disposition  thereof. 

Sec.  2.  Be  it  further  enacted,  That  if  the  additional  shares 
or  any  number  of  them  shall  be  divided  among  the  stockhold- 
ers all  the  fractional  parts  of  shares  which  may  accrue  on 
such  division  shall  be  added  together  so  as  to  constitute  whole 
shares,  and  they  shall  be  disposed  of  for  the  benefit  of  those 
having  fractional  interest,  as  may  be  deemed  advisable  by 
the  Company. 

Sec.  3.  Be  it  further  enacted,  That  this  act  when  accept- 
ed by  the  Company  shall  forthwith,  be  deemed  a  part  of  the 
Charter,  and  such  acceptance  shall  be  certified  to  the  Secre- 
tary of  State,  by  the  President  and  Directors  of  the  Compa- 
ny, under  the  seal  of  the  Corporation. 

Sec.  4.  Be  it  further  enacted,  That  a  general  meeting  of 
the  Stockholders  may  be  called  for  the  purpose  of  accepting 
the  amendment  and  if  accepted  as  provided  in  Section  3rd, 
at  any  time  within  two  years,  it  shall  be  sufficient. 

Sec.  5.     Be  it  further  enacted,     That   it   shall  not  qe  ne- 
cessary for  the   Company  to  increase  the  number  of  shares 
at  once,  but  they   may  do  so  from  time  to  time  as  shall  bef 
resolved  on  the  State  concurring  as  aforesaid,    Frovided,  how-  * 
ever,  the  whole  capital  of  the  Campany  shall  not  exceed  fif-^^ 
teen  hundred  thousand  dollars.  ^ 


[3] 

Sec.  6.  Be  it  further  enacted,  That  every  part  of  the 
present  charter  of  said  Company  which  shall  be  in  conflict 
with  this  amendment  shall  be  null  and  void  after  its  accept- 
ance as  aforesaid. 

Read  three  times  and  ratified  in  General  Assembly,  this 
23rd  day  of  February,  A.  D.  1S61. 

WM.  T.  DORCH,  S.  H.  C. 
HENRY  T.  CLARK,  S.  S. 


UNIVERSITY  OF  N.C.  AT  CHAPEL  HILL 


00042071658 


FOR  USE  ONLY  IN 
THE  NORTH  CAROLINA  COLLECTION 


